Handing over money to someone when you don't have cash available just got a little bit easier.
It's actually a whole lot easier, but only if both you and the person you want to give money to both happen to have the new Paypal NFC widget.
So while this update is clearly limited in scope, Paypal is moving forward in the world of mobile payment technology.
With the 3.0 update to its official Android app, Paypal offers a new widget for your home screen. You click on the widget to request money, then tap with another NFC handset to get your dough.
In the world of alternative payments, Paypal is the king. You either pay for something with cash, a credit/debit card, or Paypal. However, as NFC begins to emerge in the mobile sector, so to do the openings for other payment methods.
Right now, NFC payments are restricted to customers who link a compatible credit card, but that could easily change to allow customers to pay for a store purchase with something other than a traditional bank medium.
That kind of paradigm shift is a thought for far in the future, but nevertheless, NFC is poised to offer a shake-up to the payment world in a way that hasn't been achieved since Paypal. As such, Paypal is staying on top of it.
The new update is available now from the Android Market.